How to Calculate Self-Employment Tax & What is the Filing Requirement for Self-Employed?
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YouTubeTax, Life & Finances
How to Calculate Self-Employment Tax & What is the Filing Requirement for Self-Employed?
If you make $400 or more in net income, you are required to file an income tax return. When you complete Schedule C, self-employment tax is calculated on Schedule SE at a rate of 15.3%—which includes 12.4% for Social Security and 2.9% for Medicare. Half of the self-employment tax is deducted as an adjustment to income on Schedule 1, but the ...
675 views10 months ago
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